Flat start - narrow movement likely - IIFL

One Summers does not a profit make for the Indian market at least. The Indian indices which had got off to a strong start after Larry Summers withdrew from the race to the Fed top post, came crashing down after India's August WPI inflation rose to 6.1 per cent vs 5.79 per cent in July.

The outlook is a flat start and indices may move in a narrow range. More action is likely ahead of the Fed's meeting on Wednesday and Thursday and of course the RBI policy meeting on Friday. US President Barack Obama has warned Republicans in Congress that he will not negotiate over an extension of the U.S. debt ceiling as part of a budget fight.

India Infoline Finance Limited, an NBFC subsidiary of India Infoline Limited, will today launch a Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each ("NCDs") aggregating up to Rs 5,250 million ("Base Issue Size"), with an option to retain oversubscription up to Rs 5,250 million, aggregating to a total up to Rs 10,500 mn (the "Over all Issue Size"). The NCDs have an investment horizon of 3 years and 5 years.

Source : Equity Bulls

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